Baird Financial Group Inc. Has $21.87 Million Position in Live Nation Entertainment, Inc. $LYV

Baird Financial Group Inc. increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6,183.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,464 shares of the company’s stock after buying an additional 164,799 shares during the quarter. Baird Financial Group Inc. owned about 0.07% of Live Nation Entertainment worth $21,867,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LYV. Nuveen LLC acquired a new stake in Live Nation Entertainment during the first quarter worth approximately $201,501,000. Independent Franchise Partners LLP grew its position in Live Nation Entertainment by 21.4% during the first quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company’s stock worth $744,118,000 after buying an additional 1,004,574 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Live Nation Entertainment by 46.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company’s stock worth $366,195,000 after buying an additional 884,745 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Live Nation Entertainment by 83.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company’s stock worth $207,490,000 after buying an additional 723,112 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Live Nation Entertainment by 3.7% during the first quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company’s stock worth $2,596,305,000 after buying an additional 713,020 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LYV shares. Moffett Nathanson initiated coverage on Live Nation Entertainment in a research report on Monday, August 18th. They set a “buy” rating and a $195.00 price target on the stock. Sanford C. Bernstein initiated coverage on Live Nation Entertainment in a research note on Wednesday, June 4th. They set an “outperform” rating and a $185.00 target price for the company. Wolfe Research upped their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 10th. Guggenheim restated a “buy” rating and set a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Finally, Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the stock a “positive” rating in a research note on Tuesday, June 10th. Eighteen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $168.94.

Live Nation Entertainment Stock Down 0.1%

Shares of LYV opened at $166.45 on Tuesday. Live Nation Entertainment, Inc. has a 52 week low of $92.57 and a 52 week high of $167.22. The stock has a market capitalization of $39.03 billion, a price-to-earnings ratio of 72.05, a PEG ratio of 10.04 and a beta of 1.42. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day moving average of $153.60 and a 200-day moving average of $141.85.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The firm’s revenue was up 16.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.